Blackstone (BX) is in talks to acquire TXNM Energy (TXNM), the owner of New Mexico’s largest utility, David Carnevali, Ryan Gould and Dinesh Nair of Bloomberg report, citing people familiar with the matter. Blackstone Infrastructure Partners has emerged as the likeliest buyer of TXNM after other suitors dropped out of the bidding, sources told Bloomberg. An agreement could be reached as early as the coming weeks, but the talks may be delayed or falter, the people added. Shares of TXNM are up 1% to $53.65 following the report.
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